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MARKETS / NYSE / AHR
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

American Healthcare Reit, Inc. AHR

11 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.1B
▲ 11.2% YoY
$69.8M
$-590.0M
▼ 609.8% YoY
In brief

What this company does

American Healthcare REIT, Inc. acquires, owns and operates a diversified portfolio of clinical healthcare real estate properties, focusing primarily on senior housing, skilled nursing facilities, outpatient medical buildings and other healthcare-related facilities. As of December 31, 2025, the company had approximately 121 employees, including 74 in Accounting and Finance, 17 in Asset Management, 10 in Investments, five in Information Technology and four in Legal. As of December 31, 2025, the company operated through four reportable business segments: ISHC, OM, SHOP and triple-net leased properties. As of December 31, 2025, the company owned and/or operated 147 integrated senior health campuses, which allow residents to age in place by providing independent living, assisted living, memory care, skilled nursing and certain ancillary services within a single campus setting. As of December 31, 2025, the company owned 74 outpatient medical buildings that it leases to third parties. As of December 31, 2025, the company owned and operated 97 senior housing and skilled nursing facilities in its SHOP segment. As of December 31, 2025, the company owned six skilled nursing facilities within its triple-net leased properties segment that it leases to third parties. The company elected to be taxed as a REIT for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016.

Written from the business description in American Healthcare REIT, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 2.1B
Revenue, FY2025 · full 11-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.1 · Net income 0.1
0.8B1.6B201520172019202120232025
Compound annual growth
+14.0%
+14.4%
+100.3%
+31.6%
+26.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.4% a year over five years — but profit grew faster: net income at +100.3%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
3 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 19.8% · Net 3.4%
10%20%-10%-20%201520172019202120232025
ROE
FY2025 · ROE 2.5%
1%2%-5%-10%201520172019202120232025
Gross margin14.4%
Operating margin19.8%
Net margin3.4%
Return on assets1.4%
EBITDAUSD 602.7M

Each USD of equity produced 3 cents of profit this year.

Cash & shareholders
USD 163.5M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -590.0
80M160M-200M-400M201520172019202120232025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.2 · Net buybacks -1.2
0.08B0.16B-0.50B-1.00BDividendsNet buybacks201520172019202120232025
Dividends paidUSD 163.5M
Net buybacksUSD -1.2B
Share of profit234.3%
Consecutive raises—

USD 163.5M in dividends — 234% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 5.4B
EquityUSD 3.3B
CashUSD 114.8M
Gross debtUSD 966.9M
Net debtUSD 852.1M

Net debt stands at 26% of equity.

The 11-year record
11 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015
Revenue $B2.11.91.71.41.11.11.10.00.00.00.0
Operating income $B0.40.40.30.30.20.20.2−0.00.0−0.00.0
EBITDA $B0.60.50.50.50.30.30.30.00.0−0.00.0
Income tax $B−0.00.00.00.00.0−0.00.00.00.00.0·
Net income $B0.1−0.0−0.1−0.1−0.00.0−0.0−0.00.0−0.00.0
Free cash flow $B−0.60.10.10.1−0.10.20.1−0.3−0.3−0.10.0
EPS, diluted $0.42−0.29−1.08−1.24−0.950.05−0.03−0.150.02−1.750.00
Dividend / sh $1.001.001.001.600.690.860.650.600.600.40·
Payout %234−320−107−63−481248−1261−1671183−10·
ROE %2.5−2.1−5.4−5.5−3.90.3−0.8·0.6−11.80.0
Shares out B·····0.18····0.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 32 reconciliationsAUDITED

Reconciled in 11 of 19 fiscal years. 34 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2015

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